MAKING PROGRESS

 Thank God in made,that the song i want to sing after finishing my exams.i know you to we like to say that. An old African proverb says you destiny lies in you hand,so how much are you willing to succeed.Hence your destiny relies on how you use your hand.To be continued learn more

FINANCE

FACT AND FALLACIES ABOUT ACCUMULATING WEALTH

Wealth has wings and can fly.

Facts and Fallacies About Creating Wealth

By Mark Ford Many commonly accepted “facts” about wealth building are, in fact, fallacies. Take these six as examples: “Risk and reward are inversely correlated. If you want to acquire great wealth, you have to be willing to take great risk.” “Wealthy people are stingy for a reason. Pinching pennies is a necessary part of building wealth.” “The most important factor in building wealth is ROI — the rate of return you get on your investments. When investing in stocks and bonds, therefore, look for high ROIs.” “A well-balanced investment portfolio is comprised primarily (80% to 90%) of stocks and bonds, with the rest (10% to 20%) in cash or cash equivalents.” “The surest way to acquire enough money to retire is to buy the most expensive house you can afford and gradually pay off the mortgage.” “Asset allocation is the single most important factor in building wealth.” Those are the fallacies. Here are the facts:

Fact No. 1: The intelligent wealth builder takes advantage of safe bets and avoids risky ones. He does this as an employee, a business owner, and an investor. He understands that smart financial decisions are cautious decisions. When he must take a risk, he does so with some sort of loss limit in place. He never loses more than he is comfortable losing. Fact No. 2: Spending money prudently is an economic virtue, but being stingy — i.e., paying less than market value for goods or services simply because you can — is a flaw. The rich man who undertips does so not because he has learned the value of money, but because he is simply a cheapskate. It’s as simple as that. Fact No. 3: The most important factor in wealth building is not ROI but the accumulation of net investible assets, the amount of money you’re able to devote to investing after you’ve paid for all your regular expenses — your car, home, debts, and loans. Plus, individual investors, chasing yield, typically get ROIs that are less than half those of market averages. This is why the intelligent wealth builder devotes the lion’s share of his wealth-building time to increasing his income and setting realistic goals for his stock and bond portfolios. By “reasonable,” I mean market averages plus or minus 10%. Fact No. 4: The typical portfolio of stocks, bonds, and cash — however allocated — is an inadequate approach to building and safeguarding wealth. The intelligent wealth builder will also include other assets, such as income-producing real estate, tangible assets, alternative fixed-income investments, and direct investments in cash-generating private businesses. Fact No. 5: Buying a more expensive home every time you get a big raise is a great way to ensure that you will never get rich. What you want to do is find the least expensive house you can “love long time” and keep it. The longer you keep it, the more net investible income you will have to invest in income-producing assets that will eventually make you rich. Fact No. 6: Asset allocation is indeed very important, but it is only one-third of a larger strategy that truly is most important. I’m talking about risk management. Risk management has three parts: asset allocation, position sizing, and loss limitation. The intelligent investor pays equal attention to all three. Four More Facts Okay, those are six facts that dispel the common fallacies. Got a few minutes more? Here are four more facts, some of which are very basic but often ignored.     Bonus Fact No. 1: The biggest mistake retirees make is giving up their active income. Yes, I know that’s exactly what you hope to do. But to keep your wealth for a lifetime, you need multiple streams of passive income. Your goal should be to build each stream of income to a level where you can live on that and that alone. Bonus Fact No. 2: The “miracle of compound interest” applies not just to money but also to skill and to knowledge. If you want to get rich and stay rich, you need to invest as much of your spare time as possible in acquiring financially valuable skills and learning about your business. As a general rule, buying makes you poorer, whereas selling makes you richer. If you want to develop a wealth builder’s mindset, develop the habit of asking yourself every time you buy or sell anything: Is this making me richer or poorer? Bonus Fact No. 3: Every type of financial asset has its own unique characteristics in terms of growth potential, income potential, and risk. Expecting more growth or less risk than “normal” from any investment is a bad idea. And that is why 90% of ordinary investors have results that are far poorer than market averages. Bonus Fact No. 4: There are two ways investments can build wealth. One is by generating income. The other is through appreciation — an increase in the value of the underlying asset. Asset classes are inherently structured to increase value, preserve value, or do both. Investments that provide both income and appreciation are generally superior to investments that provide only income or only appreciation. But in developing an overall strategy of wealth building, the prudent investor will incorporate all three types of investments. You may find some of these facts instantly sensible. Others you may disagree with, be confused by, or see as unimportant. But don’t just read them and dismiss them, please. Give yourself a bit of time to think about them. For me, they are useful and important because they worked for me and for people I mentored — and they worked over and over again. Which means, of course, that they might work for you.

FOREX MARKET

The foreign exchange markets isn't dominated by a single market exchange, but involves a global network of computers and brokers from around the world. Central banks use their massive buying and selling capabilities to alter exchange rates through their open market activities and in many cases will do so not with profit in mind, but rather for any number of policy reasons. Forex brokers act as market makers as well, and may post bid and ask prices for a currency pair that differs from the most competitive bid in the market.

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SMART INNOVATOIN

Smart Innovation !!!!!
BODY NO BE FIREWOOD NA........ AND SOME PIKIN STUBBORN SO TEY DEM NO GO REST OR SLEEP UNTIL THEY ARE TIED TO THEIR MOTHER'S BACK
 

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WHAT TO DO TO MAKE IMPACT

When CNN founder turned Philanthropist Ted Turner donated the mind-boggling one billion dollars to the United Nations in 1997, he advertently rekindled mega-billion dollar almsgiving race. Such humanitarian quest persuaded other wealthy individuals to follow his lead. There are a lot of people who are equally rich but have not considered venturing into philanthropist territory. Turner said, "There's a lot of people who are awash in money they don't know what to do with. It doesn't do you any good if you don't know what to do with it. I have learned -- the more good that I did, the more money comes in. You have to learn to give. You're not born as a giver. You're born selfish.''  Imagine: Turner’s $1 billion gift spurred Bill Gates, Warren Buffett, FaceBook founder Mark Zuckerberg, and others to pledge over $150 billion in donations. Philanthropist is a worthy title to earn.   Give to be good, not to be rewarded.  As any true giver knows “it’s better to give than to receive”.
However, before this group of America benefactors, there was one Nigerian Chief Ugorji Eke. Although he is not as worldly known as the American counterparts, he labored to foster philanthropy in Nigeria. Sadly, and for some reason, there's hardly any evidence of his generosity documented anywhere, even on the Internet today. His real name is not well-known in Aba today; what does that say about us? Could this be the fate of similar Nigerian philanthropic pioneers?
Chief Ugorji Eke was extraordinary human being who was larger than life. He was a true legend in hisown rights. He was admired by all, especially those who grew up in Aba, Abia State from 1955 to 1980. If he had opportune to come  from a country that valued human decency, the movies would have been made about his life, theses written, and monuments erected in his honor. Such accolade goes to heroes like him. His sermons would be preached high pulpit; not only to showcase his legacy, but to encourage others to emulate accordingly. In the light of his devotion toumanity, he was our Father Theresa or Padre Pio. Chief Ugorji Eke had the heart of God and gold! How does Nigeria pass his heritage to future generations?
You and I need to exult Chief Ugorji Eke by researching and documenting his life, and to memorize him. He was fondly known as "O me furu onye o durum" (helper of last resort) for his generosity. This article validates the beliefs of my friends Ndubueze Okonkwo and Ayodele Anise. These two givers believe that Nigeria is endowed with adequate resources to achieve greatness. We just need to harness our positive talents and eschew corruption. If all Nigerians practiced the teachings of Chief Ugorji Eke, Nigeria would become a better nation.
Citing Wikipedia, “Philanthropy etymologically means "love of humanity". Chief Ugorji Eke was a lover of humanity! Just like Ted Turner did two decades ago, he inspired Nigerians to be kind to one another. Instead of waiting for the military, churches, politicians, educated folks, or other wealthy individuals to act first, he 'showed the light'.
Here are some of his good deeds: Chief Ugorji Eke was instrumental in the establishment of the Umunnato Joint Hospital. More on this later. He donated his lorries to evacuate some Igbos who could not readily pay their way back to the Eastern Region (Biafra) at the start of the brutal Civil War. When Aba was in dire strait after that War, he purchased buses to provide low-fare transportation to help the people to get back on their proverbial feet.
Delineating from my childhood stories of him, he derived a lot of joy in helping the downtrodden. From the second story verandah of his  houseEtc                                                                                                          

BreakingNews 20/12/15 - There Was Nigerian Philanthropist Ugorji Eke Before CNN Ted Turner And American Bill Gates When CNN founder turned Philanthropist Ted Turner donated the mind-boggling one billion dollars to the United Nations in 1997, he advertently rekindled mega-billion dollar almsgiving race. Such humanitarian quest persuaded other wealthy individuals to follow his lead.

There are a lot of people who are equally rich but have not considered venturing into philanthropist territory. Turner said, "There's a lot of people who are awash in money they don't know what to do with. It doesn't do you any good if you don't know what to do with it. I have learned -- the more good that I did, the more money comes in. You have to learn to give. You're not born as a giver. You're born selfish.''  Imagine: Turner’s $1 billion gift spurred Bill Gates, Warren Buffett, FaceBook founder Mark Zuckerberg, and others to pledge over $150 billion in donations. Philanthropist is a worthy title to earn.   Give to be good, not to be rewarded.  As any true giver knows “it’s better to give than to receive”.
However, before this group of America benefactors, there was one Nigerian Chief Ugorji Eke. Although he is not as worldly known as the American counterparts, he labored to foster philanthropy in Nigeria. Sadly, and for some reason, there's hardly any evidence of his generosity documented anywhere, even on the Internet today. His real name is not well-known in Aba today; what does that say about us? Could this be the fate of similar Nigerian philanthropic pioneers?
Chief Ugorji Eke was extraordinary human being who was larger than life. He was a true legend in his own rights. He was admired by all, especially those who grew up in Aba, Abia State from 1955 to 1980. If he had opportune to come  from a country that valued human decency, the movies would have been made about his life, theses written, and monuments erected in his honor. Such accolade goes to heroes like him. His sermons would be preached high pulpit; not only to showcase his legacy, but to encourage others to emulate accordingly. In the light of his devotion to humanity, he was our Father Theresa or Padre Pio. Chief Ugorji Eke had the heart of God and gold! How does Nigeria pass his heritage to future generations?
You and I need to exult Chief Ugorji Eke by researching and documenting his life, and to memorize him. He was fondly known as "O me furu onye o durum" (helper of last resort) for his generosity. This article validates the beliefs of my friends Ndubueze Okonkwo and Ayodele Anise. These two givers believe that Nigeria is endowed with adequate resources to achieve greatness. We just need to harness our positive talents and eschew corruption. If all Nigerians practiced the teachings of Chief Ugorji Eke, Nigeria would become a better nation.
Citing Wikipedia, “Philanthropy etymologically means "love of humanity". Chief Ugorji Eke was a lover of humanity! Just like Ted Turner did two decades ago, he inspired Nigerians to be kind to one another. Instead of waiting for the military, churches, politicians, educated folks, or other wealthy individuals to act first, he 'showed the light'.
Here are some of his good deeds: Chief Ugorji Eke was instrumental in the establishment of the Umunnato Joint Hospital. More on this later. He donated his lorries to evacuate some Igbos who could not readily pay their way back to the Eastern Region (Biafra) at the start of the brutal Civil War. When Aba was in dire strait after that War, he purchased buses to provide low-fare transportation to help the people to get back on their proverbial feet.
Delineating from my childhood stories of him, he derived a lot of joy in helping the downtrodden. From the second story verandah of his Etche Road, Aba home, he had a bird's eye view of the two roads below. He would see a woman carrying her baby on the back (head bubbling and all) and her entire business on her head trekking to the market on a hot and humid day. Chief Ugorji Eke would send someone to call the woman and proceed to give her more money than her wares worth and tell her to go back home and get that beautiful baby out of the sun. He would see a truck pusher strolling the streets of Aba looking for fare and he would give the person money to start a better business. He pleaded with armed robbers to stop the violence against fellow Nigerians who were struggling to feed their families. His son Ezinwa is too humble to provide me more materials for this article. I respect his humility because that is a characteristic of philanthropic families.
Although I am convinced my examples pale in comparison with numerous first-hand accounts that confirms the good deeds of Chief Ugorji Eke while he was living, I am delighted to add my tiny voice to (what should become) the immense chorus of praise for this true legend from our heritage. He believed when we join hands, this will ignite a measured interest to enkindle a great flame that illuminates dark world of selfishness, avarice, and not caring for the least among us. Everyone can partake in this worthy cause because there should be Chief Ugorji Eke in everyone.
The thought of writing this article has been percolating in my mind for a while. I was honored to mention Chief Ugorji Eke's name in a previous article. When asked if any of his siblings is following their father's foot step, Ezinwa was quick to retort that "those shoes are too big" to fill. No doubt, "O me furu onye o durum" left large shoes. However, it's up to society to propel his legacy, not his family's job. You and I can collectively enlist in Chief Ugorji Eke's philanthropic army where empowerment is waged instead of war. Please join in!
History books are full of names who contributed to the Nigeria's current sad state of affairs. Why not celebrate the few who truly gave of themselves to better society?  Philanthropy should be taught from infancy.
Chief Ugorji Eke was a major contributor to the Umunnato Joint Hospital fund. This was an ambitious community project that served the tri-village of Alayi, Igbere, and Item. Hence the name Umu nna Ato or three siblings. Although Abia State Government has ran the hospital to the ground, in its heyday the hospital saved many lives, including mine during the Civil War.
Let me recant this brief story. It was during the hospital fundraising event that Chief Ugorji Eke and my father had a slight discord. This was before my time but I grew up hearing about the incident. The story goes that in his exuberance to galvanize the people to donate money for the project, Chief Ugorji Eke used words that implied anyone who did not pledge large sum was not being a "man" enough. My father (who was a successful man in his own right and a defender of the slighted) took offense to that tone and defended the manhood of those who lacked the wherewithal to measure up. Both men meant well.  Others retold the story but my father never said a word about it. Instead he spoke highly of Chief Ugorji Eke.